Volume Spike Investor

STAAR Surgical Company (Nasdaq: STAA) is going to be the big surprise for Thursday. The company announced that the FDA has granted marketing approval for its Epiphany Injector System for use with the Affinity(TM) Collamer® Three-Piece NTIOL and the Elastimide(TM) Silicone NTIOL.

STAAR closed at $1.49 yesterday and the 52-week range is $0.79 to $5.98.  But that was then… shares are up 100% at $2.98 as of 8:50 AM EST and we have seen more than 100,000 shares trade hands.  The average volume is only about 90,000 shares per day and this follows a 50% gap-up just on Tuesday when shares hit 1.2 million shares in volume.  On that exponential volume day, the stock opened up at $1.60, hit a high and low of $1.41 to $1.89, and closed at $1.58.

The Epiphany injector system is intended for single use and offers the flexibility of either twist or push insertion techniques.

With this being low-priced and seeing a second double gap-up in a week, it is hard to not view this news reaction with some caution.

JON OGG